Nebraska Medicine continues to report positive income even as expenses rise

Nebraska Medicine, which operates a 718-bed acute care hospital in Omaha, said it had net income of $12.7 million in the six months ended Dec. 31, 2022, even as expenses rose significantly.

That figure compared with net income of $74.4 million in the same period of 2021.

Higher operating expenses in 2022 drove the reduction in profit, totaling $1.13 billion compared with just over $1 billion in 2021, an increase of 12.1 percent. Such expenses saw operating income record a net loss of $3.9 million compared with a $62.5 million gain in 2021.

Positive investment values of $16.6 million, compared with almost $12 million in 2021, helped mitigate the decline in overall income. The health system ended 2022 with 118.3 days of cash on hand compared with 163.5 in 2021.

Nebraska Medical Center is the teaching hospital for the University of Nebraska Medical Center. The health system employs more than 1,000 physicians.

In November, Nebraska Medicine named Michael Ash, MD, as executive vice president and COO.

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